U.S. Auto Parts Network Q4 gross profit increased 28%
Topics: U.S. AUTO PARTS
Fourth quarter 2019
Private label sales increased 15% Y/Y.
Gross profit increased 28% to $21.2 million, with gross margin up 800 basis points to 33.7%.
Net sales declined as expected to $63.0 million compared to $64.7 million due to reduction of unprofitable business lines.
Net loss was $(25.1) million or $(0.70) per share, compared to a net loss of $(4.5) million or $(0.13) per share. Q4 2019 includes a $(21.5) million deferred tax valuation allowance.
Adjusted EBITDA increased 137% to $1.7 million.
Ended the quarter with no revolver debt. ■